Category: Ponzi Scheme

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ECB Board Member: Crypto Is ‘Contagion And Contamination’ Infecting The Global Financial System

ECB board member says crypto is at risk of “contamin[ating]” the global financial system, asks for more regulation before crypto becomes too interconnected #NEWS Powered by WPeMatico

Will Justice Be Served? Bitcoin Trading Platform BitConnect Sued by Six Investors Who Lost Over $700k

Six BitConnect investors, who collectively lost over $700k on the platform, are taking the company and its affiliates to court in the US. Earlier this month, BitConnect released this piece of so-called ‘System News’ on its website, outlining the...

Onecoin Offices Raided in Sofia, Servers Shut Down

Bulgarian law enforcement agencies have raided the offices of Onecoin in Sofia as part of a multinational effort to neutralize what authorities call a “centralized cryptocurrency pyramid scheme”. Three million people may have been defrauded by the company...

India’s Bitcoin Exchange Koinex Suffers From Bank Blocking Crypto Accounts

India continues its shaky experiment with money’s future as its domestic population is wild about cryptocurrency. Its government and regulators are less than thrilled, though. The banking system is siding with minders, causing friction between account holders and...

India’s Ministry of Finance Compares Bitcoin and Cryptocurrencies to ‘Ponzi Schemes’

In a statement issued by the ministry on Dec. 29, 2017, the finance agency reiterated that there is a real and heightened risk of an investment bubble in the cryptocurrency market that is similar to Ponzi schemes. Powered...